Wozniacki and Wilcox form Jewel LLC, with each receiving a one-half interest in the capital and profits of the LLC. Wozniacki receives the one-half interest as compensation for tax planning services rendered prior to the formation of the LLC. Wilcox contributes $199,200 cash. The value of a one-half capital interest in the LLC (for each of the parties) is $199,200. a. How much income does Wozniacki recognize as a result of this transaction, and what is its character? Wozniacki recognizes $X as . b. How much is Wozniacki's basis in the LLC interest? How will Jewel LLC treat this amount? His basis is $ X and the partnership